Calumet to acquire Murphy Oil’s Wisconsin refinery assets

Calumet Specialty Products Partners, L.P. has signed an agreement to acquire the Superior, Wisconsin refinery and associated operating assets and inventories from Murphy Oil Corporation at a cost of approximately US$475 million. This acquisition is expected to be finalized by the end of the third quarter. The acquisition is subject to regulatory approval. The refinery at Superior produces gasoline, distillate, asphalt and specialty petroleum products. Bill Grube, vice chairman and CEO for Calumet said, “We are pleased to announce our largest acquisition or expansion since our initial public offering. We expect the acquisition to be immediately accretive to distributable cash flow. The Superior refinery acquisition provides us greater scale and development potential to our refining business. The acquired assets will increase our current throughput capacity by 50% to approximately 135,000 barrels per day and will add beneficial geographical diversity to our assets.” (July 26, 2011)